Harvard 34, Yale 7…oh well.
566 Round Hill Road came on today, at $12,995,000.
The last party I attended here was the one that followed Malcolm Pray’s funeral, back on September 21st, and, as was always the case, it was a blast. Typical Malcolm style, right up till the end.
This Round Hill Road property is located just after 558 Round Hill Road, a listing I shared with broker Amy Balducci. Both lots are nearly identically sized (8.04 vs. 8.03 acres). We got $3,500,000 for that, selling as “land” w/tear-down, but that was for largely raw land, akin to a fallow farm. Pray’s is a magnificent estate with pool, tennis court, multiple garage and other out-buildings. From the pictures, it almost looks like a fancy private golf club, don’t it?
Ok, sorry, slacking off again, dammit. As a consolation, here’s two week’s worth of activity!
For the 2-week period Monday, November 4th – Friday, November 15th:
29 accepted offers- no link till they’re signed (but that’s a whole lot for this time o’ year, dude)
Be sure to skip the opening ad and then watch this short, very funny video,
(This sort of sarcasm must drive screen writers crazy)
Wow, there’s nothing like a ten million dollar price reduction to freshen up a listing!
140 Wallacks Drive, as I wrote recently, came on the market way back when, at the rather princely sum of $18,900,000. Various listings, with various prices, and various brokers, all came and went. Now it is back on with a new broker and a new price, $8,995,000, zounds!
So is it a “bargain”? I’m not sure, and that’s exactly why, when a client wants to buy outside of Greenwich, I refer them to a local expert. Anyway, if you’re about to buy waterfront anywhere near this price range, you owe it to yourself to go look at this one.
List: Charlotte Felt
My, but that sounds confident, does’t it? 18.75….such a precise sounding number, very impressive.
So, where did I get it? From these two sales:
73 Club Road, 12/2010
73 Club Road, 11/2013
It’s exceedingly rare to get a true “apples-to-apples” comparison in the field of real estate. Typically we deal with houses, and houses can be changed in small, but significant ways each time you get a new owner. Something as trivial as pretty wallpaper, clean windows, and better looking furniture can add hundreds of thousands to the price of a Greenwich home, and that higher sales price is then falsely attributed to a “market rise”.
Yet here, at 73 Club Road, Riverside, we have a rare opportunity to compare two sales of the same property, three years apart, where nothing was changed. It’s the same 2.62 acre waterfront parcel (in the 1-acre zone), the same 1950′s tear-down house, same view, same neighbors.
The result? $8,000,000 back in 2010, $9,500,000 yesterday. Ipso fatso*, Greenwich prices “must” be up 18.75%! Case closed.
* Otherwise intelligent people sometimes screw up words and phrases. “Ipso facto”, is amusingly corrupted as above, “statue” of limitations, is another. And let’s not overlook “supposably”.
Like me, you can hardly wait for Downton Abbey to resume in January. Here’s an early report of the first episode:
Scheming footman Thomas Barrow, played excellently by Rob James-Collier, murders the whole Crawley family (Lord Grantham, etc.) in their sleep. Subsequent episodes deal with the ensuing murder trial, and the takeover of the estate by IRA mercenaries.